President Trump has signed several executive orders directing the Treasury Department to report on areas where the administration may be able to ease banking regulations implemented by Obama and the Democrats, but Reuters reports that those reviews may be delayed. Trump, in February, gave Treasury Secretary Steve Mnuchin 120 days to deliver the news to […]

President Trump has signed several executive orders directing the Treasury Department to report on areas where the administration may be able to ease banking regulations implemented by Obama and the Democrats, but Reuters reports that those reviews may be delayed. Trump, in February, gave Treasury Secretary Steve Mnuchin 120 days to deliver the news to […]

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Trump Administration to Delay Dodd-Frank Review

President Trump has signed several executive orders directing the Treasury Department to report on areas where the administration may be able to ease banking regulations implemented by Obama and the Democrats, but Reuters reports that those reviews may be delayed.

Trump, in February, gave Treasury Secretary Steve Mnuchin 120 days to deliver the news to the Oval Office; that deadline may come and go, however, due to ongoing staff vacancies within the department.

According to Reuters, the reports may be delayed and/or broken up into several different reports as time permits:

The U.S. government’s review of a landmark 2010 financial reform law will not be complete by early June as originally targeted, and officials will now report findings piece-by-piece, with priority given to banking regulations, sources familiar with the matter said on Monday.

President Donald Trump has pledged to do a “big number” on the Dodd-Frank financial overhaul law, which raised banks’ capital requirements, restricted their ability to make speculative bets with customers’ money and created consumer protections in the wake of the financial crisis.

A Treasury Department official told the news agency that they were working hard to get at least some of their findings on the president’s desk by June. “Given the volume and scope of the issues we are reviewing that involve potential changes to the financial regulatory system,” the spokesperson said, “we are carefully considering the best options to begin rolling them out in the most effective and responsible manner.”

Not long ago, President Trump told Bloomberg that Dodd-Frank was “going to be very, very seriously changed so the banks can go back to loaning money.” And in a speech to community banks later that day, Trump criticized current financial regulations as “out of control.” His steadfast commitment to cutting those regulations is likely responsible for the enormous Wall Street surge we’ve seen since his election.

While it’s unlikely that we’re in for a return to the Glass-Steagall days of dividing commercial banks from their investment firms, Trump is wary about appearing too cozy with Big Banking – one of the criticisms that hurt Hillary Clinton in 2016. That said, the banks are expecting quite a bit of relief from the Obama-era laws. Experts say it’s likely that the Trump administration, together with Congress, will ease capital requirements and fee limits while gutting the Consumer Financial Protection Bureau. A massive deregulation package would not only be welcomed by Wall Street but by small regional and community banks as well.

Politically, the question is whether Trump’s reinvented Republican platform can tie his populist message to the more traditional conservative view of financial deregulation. This difficult feat can be made easier when and if Republicans start pushing back on the liberal mythology surrounding the recession.

Estell Newton

Hopefully it will be easier to get credit for big ticket items–like a house.

John Cherish

Yes Bill Clinton helped with the housing bubble by allowing banks to loan money to people who couldn’t afford to own a house. Do you mean that kind of credit easing? I agree on making it easier to buy a house for those individuals of good credit standing who deserve the opportunity and have a good record of financial stability. Making it easier has its pitfalls

Estell Newton

There are people who could afford a house now that couldn’t before. I wish they would change the credit reporting place and make them take things out that should have been years ago. Sometimes that is what the problem is. Even when it’s reported that some bills, student loans for example, are paid off and it is proven they are those stay in the reports for years after they were paid off as unpaid. Reporting corrections doesn’t always work.

mrpoohead

Story is rubbish – no Executive Order. Complete drivel!

Estell Newton

Shut up. Other people do have a right to their opinion.

mrpoohead

Facts walk over idiotic opinions. Do you run your life on hyperbole and BS – good luck with that!

Estell Newton

At least I have a life and I don’t spend all day in forums looking for people to insult. You should be barred from all forums.

mrpoohead

I own the business – helps! I may be sarcastic and irreverent but I am not obnoxious unless goaded. Suck it up buttercup! You should be barred from receiving oxygen.

I take it you’ve just got home from the night-shift – did you enjoy Soros on top. Nice that the first person you think of is me – I won’t tell the wife.

rivahmitch

Get rid of the bailouts for those “too big to fail” and the rest will take care of itself. By indemnifying those who are the worst offenders historically, Dodd-Frank just perpetuates the problem.

Jim Mahoney

Especially the Skank of America

Florencejherman

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AntiGOP

Especially the Skank of America

Brilliant Statement

When your done please flush…

mrpoohead

The problem exists because some idiots decided to repeal the Glass-Steagall Act.

AntiGOP

rivahmitch>>>Get rid of the bailouts for those “too big to fail”

What planet is this idiot on…that was 10 years ago.!

mrpoohead

….and everybody was too scared of were that would then go. Rivah is an ignoramus.

AntiGOP

Bailouts by GOP were a prime example of putting out a match with 5 gal jug of gas.

That was the second blunder of the Cheney Presidency…

l2a3

Keep in the money I put into the bank IS MY MONEY, NOT THEIRS. I do not need to explain why I want to withdraw or their permission to withdraw any of it.

The cause of the massive inflation is the Federal reserve Act of 1913 which permits the federal reserve system to operate a fia tfractioanl reserve banking system by issuing currency which contains no real back since Nicon removed gold backing from the dollar.
The details are explai9ned at

Trump need to get on determining the best way to abolish the act. Or risk the collapse of the United States Of America

John Cherish

If he abolishes the act it will most certainly lead to the collapse of the economy as there are too many fiat dollars in circulation more than what can be backed up by real money (gold and other hard assets). So be careful what you wish for as the easy way out no longer exits we have sold our souls to the devil and we will pay back more than the pound of flesh he will demand. What is needed is a total collapse and to start over BUT that will be painful and many people will die as a result of it. So how would you propose to kill the beast?

arthur M. alex

If you liquidate the Liberal-Facists from Congress, everything becomes possible!

To allow these liberal- facists to hold seats in our federal government will eventually lead to armed revolt by the middle class, and then everything disappears!

AntiGOP

No longer federal government….

Putins Puppet Government…

You folk are always late to the party…

anolesboy

Banks are better than my cookie jar ???

Joan Ferrantesimplyme

Really!! What kind of a cookie jar do you have????

wayne g dearry

I’m in Michigan and the small Bk I have had for 12+yrs went under 5/5/17 and the teller told me today at my other Bk that because of the Dodd-Frank Act her Bk lost 2mil because of this D-F-Act. It has to go.

homer1057

“For the “LOVE” of money is the “ROOT” of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows. 1 Tim 6:10 KJV (ONLY)

Walter Flatt

DONT DELAY NOTHING, GET TOGETHER AND PASS EVERY LAW TRUMP WANTS TO PASS, YOU RINO’S HAVE THE VOTE AND DO SOMETHING ABOUT WHAT REALLY MATTERS, LIKE THE BELOW, IF WASHINGTON IS INVADED, IT WILL BE TOO LATE.

FROM A REGISTERED DEMOCRAT, BUT AN AMERICAN FIRST. PROUDLY, I VOTED FOR TRUMP. I AM 86 AND NEVER SEEN A MORE QUALIFIED PERSON THERE.

EVERY ONE AND THIS GOVERNMENT HAD BETTER WORRY ABOUT THE MUSLIMS HERE AT HOME ESPECIALLY THE 5 CAMPS IN NORTH VA. CLOSE TO WASHINGTON.

PUBLIC LAW 414, PAGE 2, SECTION 212, WAS PASSED IN 1952 THAT BANS ALL PEOPLE TRYING TO DESTROY OUR COUNTY, AND MUSLIMS QUALIF TO BE DEPORTED.

READ THE QURAN, THEIR BIBLE.

COULD IT BE THAT OBAMA HAS SET US UP FOR HIM TO LEAD A MUSLIM INVASION OF OUR COUNTRY? IF NOT,

WHY ARE THERE 5 MUSLIM CAMPS IN N. VIRGINA, CLOSE TO DC. (TAKE OVER WASHINGTON, COULD BE) WE WILL HAVE A LOT OF HEADLESS POLITICIANS IF SO.

WHY TRY AND BUY UP ALL AMMO AND TAKE OUR GUNS.

WHY ALLOW IN EXCESS OF 36 MUSLIM CAMPS. (PERHAPS HUNDREDS)

(BUILD A FEMA CAMP IN EVERY STATE? SOME STATE HAS MORE THAN ONE. BUILT AND SUPPORTED BY YOUR TAX MONEY.

WHY, WHILE IN OFFICE, DID HE SET HIS CABINET WITH MOSTLY MUSLIMS.

WHY WAS HILLIARY’S TOP AIDE A RADICAL MUSLIM,

WHY IS THE DEMOCRAT PARTY FOR A OPEN BORDER. COULD IT BE TO GET FREE DOPE, GOODGLE, THE NEW CLINTON CHRONICLES 2015 AND LISTEN TO IT ALL.

LAST WHY, DID OBAMA SEND BILLIONS TO HIS MUSLIM FRIENDS.

moon_watcher

I’m counting on this administration – once they get firm footing in DC – to destroy all armed Muslim camps in America and hold those responsible and prosecuted to the maximum extent of the law.

AntiGOP

once they get firm footing in DC

Yupper…need to learn how to walk in ones own feces.!

The rest of your rant is a mental disease.

AntiGOP

Walter Flatt

Like in FLATT tire….

you know…looks good around…but doesn’t go anywhere.!!!

Have you though about a job working the Coal Mines…I hear Trump opened up 100,000 new jobs there.